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Stock Market & Financial Investment News

News Breaks
December 10, 2012
09:26 EDTVZ, PRUPrudential completes pension risk transfer transaction with Verizon
The Prudential Insurance Company of America, a Prudential Financial (PRU) company, announced that the Verizon Management Pension Plan has purchased a single premium group annuity contract from Prudential Insurance to settle approximately $7.5B of pension liabilities of the Plan. Under the terms of the contract, Prudential Insurance has irrevocably assumed the obligation, beginning January 1, 2013, to make future annuity payments to approximately 41,000 members of the Verizon Management Pension Plan.
News For PRU;VZ From The Last 14 Days
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January 31, 2016
13:47 EDTVZYahoo delay in seeking sale could force proxy fight, Barron's says
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January 28, 2016
16:40 EDTVZOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
08:02 EDTPRUPrudential receives approval for acquisition of interest in Administradora
Prudential Financial said that it has obtained the approval of the Chilean Superintendence of Pensions for its previously announced proposed acquisition of an indirect ownership interest in Administradora de Fondos de Pensiones Habitat S.A. (AFP Habitat), a leading provider of retirement services in Chile that trades under the symbol HABITAT CI on the Santiago Stock Exchange. Prudential expects to acquire indirectly between approximately 34 and 40 percent of AFP Habitat from Inversiones La Construccion S.A., the investment subsidiary of the Chilean Construction Chamber, depending on the results of a pre-closing partial tender offer by a subsidiary of ILC to acquire up to 13 percent of AFP Habitat's outstanding shares from public shareholders at a price of $899.90 Chilean Pesos per share. ILC has announced that this tender will commence on January 28, 2016 and, unless extended, will expire on February 26, 2016. Following the completion of the tender offer, Prudential will acquire its indirect interest in the AFP Habitat shares from ILC for 899.90 Chilean Pesos per share, for a total purchase price of approximately US$430 million to US$510 million at current exchange rates. It is expected that the transaction will result in equal ownership positions for Prudential and ILC, with a controlling stake in AFP Habitat held through a joint holding company.
06:56 EDTVZVerizon denies report of bidding on Yahoo core business, CTFN says
Verizon (VZ) spokesperson for Bob Varettoni said the New York Post "was wrong" in reporting on January 23 that the telecom company made an offer to acquire Yahoo's (YHOO) Internet search business, reported CTFN. Varettoni told the publication: "The rumor's false...We've made no offer to acquire Yahoo." Reference Link
06:30 EDTVZYahoo starts restructuring with 'invest/maintain/kill' list, Re/code reports
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05:44 EDTVZSpringOwl calls for Yahoo, Viacom to seek partners, Reuters reports
SpringOwl Asset Management, which holds undisclosed stakes in Yahoo (YHOO) and Viacom (VIA), is urging the boards of both companies to seek investments from strategic partner, Reuters reports, citing an article that is set to be published today. SpringOwl managing director Eric Jackson says that "Although some shareholders of both Yahoo and Viacom think that a simple sale or break-up of both companies is the best way to create value for shareholders, we believe that both companies could benefit from their own version of the 'Buffett Convert,'" and that while stakes of investors would be diluted if an outside investor steps in, but "they would still be better off because their shares would likely get re-rated upwards substantially with this new partner sitting around the board table." Jackson believes Yahoo should seek outside investment from Liberty Media (LMCA), Verizon (VZ) or AT&T (T), while Viacom would benefit from Alibaba (BABA), Amazon (AMZN) or AMC Entertainment (AMC). Reference Link
January 27, 2016
16:01 EDTVZOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T
09:29 EDTVZFacebook data center project supported by telco heavyweights, FT reports
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January 26, 2016
09:05 EDTVZVerizon and Samsung launch network extender solution
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